MainePERS approves $40m commitment

The US public pension has backed Stonelake's seventh opportunity-vehicle.

Institution: Maine Public Employees Retirement System
Headquarters: Augusta, US
AUM: $18.8 billion
Allocation to alternatives: 39.2%

Maine Public Employees Retirement System has confirmed a $40 million commitment to Stonelake Opportunity Partners VII, a contact at the pension informed PERE.

Stonelake‘s latest fund launched in February of this year with an undisclosed target size, according to an SEC filing. The fund will focus on office, retail, multifamily and residential opportunities in North America. Its predecessor, Fund VI, closed in July 2021 on $555 million.

MainePERS has a 10 percent target allocation to real estate, which currently stands at 8.5 percent.

As illustrated below, MainePERS’ recent real estate commitments have tended to focus on North American vehicles with a variety of strategies and sectors.

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